Commenters on another thread have been discussing this story from the Irish Times concerning comments from Frank O’Dwyer of the Irish Association of Investment Managers. Mr O’Dwyer’s comments are reported as follows:
“I strongly believe that the Department of Finance and agency understand that while they have to be fair to the taxpayer, the key audience is international financial markets,” said Frank O’Dwyer, who heads the Irish Association of Investment Managers in Dublin.
“An excessive haircut, with any taint of political motivation, any sense of ‘let’s stick it to these guys,’ would erode confidence.”
Interestingly, while the “key audience” is international financial markets, Mr. O’Dwyer also says:
“The only certain game in town in relation to capital is the State,”
I also liked this comment
The agency’s task is to find a “zone of rightness” for the discount
I can see the zone of rightness catching on as a phrase. It’s kind of like “truthiness“.